Home

Instant Insights / Legal Issues in Insurance

The legal and insurance industries share a unique relationship - one that works for and, at times, against each other. This collection of articles addresses key and emerging issues overlapping the law and insurance sectors.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Insureds tend to expect that brokers will advise them on the types of insurance that may be needed for their business. (Photo: Free Use Image/ALM Media archives) Insureds tend to expect that brokers will advise them on the types of insurance that may be needed for their business. (Photo: Free Use Image/ALM Media archives)

Insurance brokers may be exposed to liability for a variety of reasons, but the most common mistake that leads to exposure is a failure to procure insurance for an insured.

Normally, brokers have a duty to exercise reasonable care in procuring the insured’s requested coverage, and the broker assumes only those duties found in an agency relationship. Most state laws and regulations require the broker to use reasonable care, diligence and judgment in procuring the insurance requested by an insured.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

The British Legal Awards (BLA) 2023Event

Celebrating achievement, excellence, and innovation in the legal profession in the UK.

Get More Information
 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.